Shiba Inu exchange netflow hits 77 billion SHIB, selling pressure persists

Shiba Inu (SHIB), a popular meme-based cryptocurrency, continues to experience volatile market movements, with red numbers dominating most recent trading sessions. Despite these fluctuations, new exchange data indicates that sellers may still control the market in the near term. CryptoQuant, a blockchain analytics company, has reported that Shiba Inu’s exchange netflow posted a positive balance in the past 24 hours. The netflow surged to over 77 billion SHIB, reflecting an increase of nearly 4% during the period. This spike indicates that a substantial volume of SHIB tokens has been transferred to exchanges, making them available for sale. As of October 23, the net balance reached 77,298,600,000 SHIB, suggesting that more tokens are flowing into trading platforms than being withdrawn for holding or long-term investment.

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